Nicole Junkermann - international entrepreneur & investor

Nicole Junkermann’s perspective on the next agricultural revolution

Nicole Junkermann — Fri, 19 Feb 2021 00:24:48 +0000

Innovative technology is the driving force behind the future of food.

It is the key to the next agricultural revolution; refocusing the world’s agricultural system to become more nutritious and less environmentally damaging.

After the Second World War, food shortages and famine were rife. As a result, the Green Revolution was born and productivity skyrocketed worldwide. This huge increase in crop yield has now been coined “the paradox of productivity”, which in turn created a new series of crises – a less efficient food system, obesity, environmental degradation, and climate change.

We have now reached a fork in the agricultural road: one path is to continue farming on an industrial scale, the other involves revolutionising our food system to focus on sustainability, nutrition and protecting the environment.

The Fourth Agricultural Revolution

Since the turn of the century, agricultural technology, also known as AgTech, has rapidly changed the food industry. According to Crunchbase data, in each of the last two years, venture capitalists invested $4billion in start-ups in the AgTech space and 2020 is set to top this. With mounting pressure placed upon governments and international trade bodies to achieve their sustainability goals, it has been essential that modern farmers embrace technology to meet their targets.

But technology is now advancing at such a rapid pace, that we are seeing a fourth agricultural revolution coming through. This involves the use of AI, machine learning, drone development and robotics.

Drones and Robotics

There are various ways drones are used throughout the crop cycle. From producing 3-D maps for early soil analysis, aerial planting of seeds and nutrients over mass distances, through to irrigation management where drones with thermal sensors can identify which parts of a field are dry or need improvements. Drones are by no means new technology, but their usage is now becoming common-place and they are an essential part of improving sustainability in agriculture.

The use of robotics is another essential facet of the next agricultural revolution. Robotics are most commonly used for harvesting and picking due to their accuracy, speed, and ability to reduce crop waste. Robots also have the capacity to relieve workload and increase profitability while reducing the impact on the environment.

Gene Editing

Gene editing involves making precise changes to the DNA of a particular species. Until now, EU rules made gene editing almost impossible, however in the wake of Brexit, the Government has launched a consultation on using gene editing to modify livestock and crops in England.

However, this technology massively divides opinion. Some experts say that gene editing has the ability to create healthier, more sustainable food, where animals could be resistant to diseases and crops require fewer pesticides. Others argue it is an unproven technology which does not take into account animal welfare, ethical, or public concerns. The consultation will run until March 17 when we will find out if gene editing will be part of the next agricultural revolution.

Lab Grown Meat and Manufacturing Alternative Proteins

Advancement in biotechnology, including being able to grow meat in laboratories, is another feature of the next technology revolution. Consumers are now fully aware of the ethical and environmental impact of the meat industry. Lab-grown food products offer a sustainable solution and have the potential to disrupt the agricultural market as we know it.

But it is not just lab-grown products; the manufacturing of alternative proteins has become immensely popular. According to a study by Polaris Market Research, the global plant-based meat market size is expected to reach USD 35.4 billion by 2027. I am proud to be an investor in two plant-based companies. The first is ALOHA, a company committed to making the healthiest, best-tasting plant-based protein products. The second is JUST, a plant-based alternative with a similar flavour, texture, and colour to chicken eggs. This product can be scrambled, knocked up into an omelette, or used in baking and rice-based dishes.

The future of agriculture lies in technology-based advances. Whether it is outside on the farms using drones, 3D maps, and machines, or inside laboratories fine tuning genes or producing meat free alternatives. It is vital that we continue to embrace and advance this technology to make the world a safer, more sustainable place.

Nicole Junkermann on investing in the future of plant-based alternatives

Nicole Junkermann — Fri, 18 Dec 2020 10:55:18 +0000

Over the past decade, interest in and consumption of plant-based foods has boomed. We live in an increasingly sustainable and health conscious era, where consumers are rethinking what they buy, wear and eat, and where it comes from.

As a result, the plant-based substitute market has expanded dramatically. This trend has been somewhat accelerated by the COVID-19 pandemic due to the fact that the production of artificial meat is more automated, less labour dependent and, resultingly, less vulnerable to shortages in staff and price fluctuations. The US alone saw a 200% increase in sales of plant-based meat substitutes in the week ending April 18, compared with a 30% increase over the same period for fresh meat, as reported by consumer data group Nielsen.

According to a study by Polaris Market Research, the global plant-based meat market size is expected to reach USD 35.4 billion by 2027. It is widely reported that the largest consumer trend leading to the explosion of this sector is changes to mainstream diets with more people becoming ‘flexitarian’, vegetarian and vegan.

There are a number of reasons why consumers are changing their diets. The first is animal welfare and ethical concerns associated with the meat and dairy industry. The second is environmental concerns. Governments and business leaders are slowly awakening to the climatic and environmental effects of the meat industry and pursuing policies to ameliorate its impact. The final reason is the health concerns associated with a meat heavy diet. Many plant-based alternatives have a high nutritional value and long-term epidemiologic studies have shown that replacing red meat with nuts, legumes and other plant-based protein foods is associated with lower risks of many chronic diseases and total mortality. In addition to this the pandemic has caused society to question the link between public health, meat consumption and the need for sustainable alternatives.

According to a Deloitte report on plant-based alternatives, “The UK is one of the markets leading the way in plant-based products. It is the largest market in Europe for consumption of plant-based alternatives, accounting for around 40 per cent of the European meat substitutes market”. In the US, the pandemic has caused some of the biggest meat producers to shut down their operations. New SPINS retail sales data released March 3, 2020, shows that “sales of plant-based foods that directly replace animal products have grown 29% in the past two years to $5 billion”.

As an active investor, it’s important to spot trends early. The combination of a growth in consumers looking to eat plant-based foods and the rapid innovation of new products make this sector, in my view, a particularly attractive investment. This is one of the reasons I decided to invest in ALOHA, a company that offers plant-based protein products.

Introducing ALOHA

Founded in 2013 by three long-time Hawaii residents, ALOHA is an employee-owned and operated company committed to making the healthiest, best-tasting plant-based protein products on the planet. ALOHA’s product portfolio includes protein bars, drinks and powders that taste as good as they are for you, proving you don’t have to sacrifice taste for nutrition. All ALOHA products are sustainably sourced and thoughtfully packaged with deep respect for both people and the environment.

Brad Charron, ALOHA’s CEO said, “At ALOHA we believe you don’t have to sacrifice taste for nutrition and that healthy, great-tasting food should be widely accessible”.

It is clear that there is a growing investment in a meatless future. I am excited to see how this sector develops with so many innovative products yet to hit the market. There have been monumental changes in recent times to the dietary habits of millennials and Generation Z, and it is clear that this new plant-based boom is not a fad, but is likely to keep its newfound place in the mainstream.

Appetite for innovation

Nicole Junkermann — Mon, 14 Dec 2020 11:45:55 +0000

We are what we eat; so the saying goes. And for those at the forefront of ‘food tech’ that means a diet of innovation designed to chew over some of the world’s most pressing problems.

I’ve long been interested in the intersection of the food industry and game changers such as big data, AI and the Internet of things, and how applications emerging from companies may change the way we produce and consume.

Evolving agribusiness to become more sustainable, healthier and more efficient is long overdue and pressing. The global food industry consumes 30 per cent of the energy we produce and emits 22 per cent of the total greenhouse gases, while soil degradation, wasted water and overfishing are undermining our capacity to supply food. With the accompanying population growth, we simply cannot afford not to step up and embrace a food revolution.

But it’s a future with great investment potential too – reflected by rising interest from venture capitalists. Food is, after all, the planet’s biggest industry, with a devoted seven billion customer base. Indeed, the Global Food Tech Market Analysis & Forecast 2016-2022 estimates the food tech sector will be worth US$250 billion by 2022.

The agri-food industry is calling out for creative tech solutions all along the supply chain, from food preparation to distribution and consumption. These look to solve contemporary challenges such as how to feed the world, climate change, food waste, the lack of natural resources and global digitalisation.

Big stakes call for big ambitions – even if food tech still accounts for only a tiny part of the agri-food industry itself. Nevertheless, these ‘agripreneurs’ are at the bleeding edge, offering research and development projects from biotechnological agriculture, agricultural product trading platforms and bioenergy to agricultural robotics and new crop systems.

Consumption is being transformed by areas such as personalised diets using AI, social networks and DNA to create menus tailored to individuals. Knowing where your food comes from is also an increasing concern for consumers and a driver of their purchasing choices – and blockchain tech is beginning to help supermarkets with food traceability issues – allowing them to guarantee, for instance, that their chicken is antibiotic-free. Meanwhile, distribution is getting an upgrade as robots, remote-controlled vehicles and drones take on delivery, display and inventory.

But it’s meat substitutes that perhaps offer the most exciting and expedient potential for positive impact. Plant-based diets are big news: perhaps the most high-profile flesh substitute, Beyond Meat, made from pea and soy protein (and financed by, among others, Bill Gates and Leonardo Di Caprio), has become a posterchild for the ‘alt-meat’ movement. But cellular laboratory meat too has been causing a stir, with prototypes of cellular agriculture – which cuts out live animal husbandry – expected on the market within the next decade. When you consider animal products produce more than half of all food-related greenhouse gas emissions and use 80 percent of available farmland, it’s clear that reducing their consumption or even changing the way they’re produced – as sci fi as it might seem now – will have huge impact.

In the end, the answers to all our global food issues won’t all come delivered on a plate. Ultimately, though, I do believe that food tech companies offer some of the best hopes to keep them on the menu.

Nicole Junkermann’s perspective on how technology could hold the key to living longer

Nicole Junkermann — Wed, 14 Oct 2020 15:31:44 +0000

The current Covid-19 pandemic sadly all too clearly demonstrates the need for continual improvements and growth in the field of healthcare.

Many people take their health for granted, however, this crisis will surely encourage society to reassess its priorities and give importance to those things that are really essential.

Speaking at the Founders Forum Health Tech Summit at London Tech Week in September, The Health Secretary, Matt Hancock, announced a £140 million investment scheme to find and create new artificial intelligence (AI) programmes to improve patient health and care in the NHS. Mr Hancock spoke of three areas of focus for the NHS going forward: “improving the environment of innovation”, better use of data and changing the culture of the use of health technology. This scheme clearly underscores the fact that technology is at the centre of the Government’s approach to health and life longevity.

It’s not only the Government which is using technology to help us live longer, Silicon Valley tech giants are also utilising technology and AI in an attempt to extend the human lifespan. Notable technologies being developed include: implanting robotic muscles inside human bodies to help increase lifespan, the production of AI-powered drug discovery and the use of nanotechnology to place tiny machines into human blood streams and brains in the hope that they can free us of diseases.

I was a very early investor in both healthcare and biotech, particularly focusing on early-stage companies looking to utilise the latest advancements in technology to make much-needed breakthroughs in their fields. My focus when I first invested in this area was to support the companies on a mission to help people live both longer and healthier lives; and this remains my focus today.

Two of my portfolio companies are great example of how the right investor support can affect a real positive change in the healthcare field. The first is Gordian Biotech which has developed a pioneering platform capable of reducing the clinical testing times for the development of new drugs. The second is Cambrian Biopharma, a clinical-stage biopharmaceutical company founded in 2019 focused on developing therapies to prevent and cure age-related diseases with the help of AI. These examples are a testament to the powerful impact that meaningful investor support can have on these extremely valuable and innovative companies.

I also invest in products and ideas which help bring greater ease to people’s everyday lives, such as Elvie, (pictured above) co-founded by Tania Boler in 2014. The company has made great progress in developing products including the world’s first silent, wearable breast pump and the kegel pelvic trainer, which are making a real difference to the lives of women across the world. The company was one of the early pioneers of the rapidly growing “Femtech” sector.

Over the last decade, we have come leaps and bounds within the field of technology and innovation. Now more than ever, is it essential that we continue to invest in improving and developing technologies, as this truly is the key to health, longevity and fighting the current and any future pandemic.

Nicole Junkermann on how COVID-19 has sparked the acceleration of technology

Nicole Junkermann — Tue, 06 Oct 2020 08:33:57 +0000

Technology has played a critical role in helping to alleviate the impact of the COVID-19 crisis in many different ways. Indeed, people across the world, from all different ages and backgrounds, have embraced technology at an unprecedented speed.

As an investor, there are two sectors that I believe stand out due to the way they have embraced technology throughout the pandemic – retail and remote working. As the Government continues to announce further restrictive measures, I believe it is these sectors that will continue to thrive in the ‘new normal’ and therefore make an attractive future investment.

Retail

As an investor in the retail sector, I have noticed a couple of interesting trends that have successfully helped to re-shape the sector. COVID-19 has accelerated the inevitable shift from the high street to e-commerce, forcing the industry to embrace technology. Without overlooking the devastating impact of COVID-19, we cannot ignore the fact that business opportunities in the retail sector, both on a digital and technological front, have soared. Consumers have also had to adapt to these challenging circumstances and, in doing so, have become increasingly reliant on technology too.

I have invested in a number of early-stage companies which are providing innovative, digital solutions in the retail sector. One of them is Bolt: a payments company improving the customer checkout process and thereby the turnover of e-retailers.

Bolt is a payments platform that provides an optimised checkout experience, reinventing the concept of the ‘one-click buy’. The platform allows online retailers to utilise Bolt’s technology in order to enable consumers to quicker, more efficient purchases through fewer clicks and fields to complete, faster page loading, and a faster time from decision to buy, through to purchase to completion.

Remote Working

A second sector that has fully embraced technology during the COVID-19 pandemic is industry supporting remote working. In just a few months, the entire working landscape has dramatically changed; whilst many employers are adapting to a hybrid style of working, using video conferencing applications such as Zoom and Microsoft Teams, others are looking to adopt remote working on a more permanent basis.

In a recent announcement, Prime Minister Boris Johnson announced a range of new restrictions which included instructions to workers to stay at home ‘if they can’. In August, it was reported that only 34% of British white-collar workers had returned to the office, compared to 83% in France, and an average of 68% among major European counterparts. It is was clear that, even before new lockdown measures were implemented, there was a general sense of resistance towards going back to the office full time.

The “Coworking Spaces Global Market Report 2020-30: COVID-19 Growth and Change” published in May 2020 reported that the global co-working spaces market is expected to decline from $9.27 billion in 2019 to $8.24 billion in 2020. However, the market is then expected to recover and reach $11.52 billion in 2023. Whilst it is unclear at this stage which company will come to dominate the market, I believe that there is a substantial opportunity for business development and growth.

As we reach a “critical point” in the fight against COVID-19, new restrictions to try and curb the spread of the virus continue to be implemented. It is clear that our reliance on technology is playing a crucial role in allowing employees to not only work from home, but to also stay connected to family and friends during the potentially isolating months ahead.

It is very difficult to predict what the post-COVID-19 world will be like. The ramifications of this virus will change healthcare systems, politics, consumption and economics across the world beyond recognition. Whilst many of these changes themselves are unpredictable, it is almost certain that they will be driven by modern technology and innovation. As a result, business success will be largely determined by how quickly individuals and businesses can adapt to such technological advancements and implement meaningful change.

How AI technology could help us prepare for a future pandemic

Nicole Junkermann — Thu, 06 Aug 2020 16:45:41 +0000

The COVID-19 pandemic is having a devastating impact on the world as we know it.

Globally, we have seen COVID-19 push healthcare systems to their limits and researchers to rapidly search for solutions not only against this virus but also to the question of how we prepare for a future pandemic.

Such preparations will require a collaborative and well-coordinated approach from politicians, leading healthcare professionals, and companies, and the use of artificial intelligence (AI) technology could be central to these plans.

The potential of AI

I was very early in investing in both the healthcare and biotech sectors, particularly focusing on early-stage companies looking to utilise the latest advancements in AI to make much-needed breakthroughs in their fields. I have been fortunate to see first-hand how AI, applied in the right way and working hand-in-hand with leading scientists and organisations, can play an increasingly important role in the future of disease control.

From predictive care to precision health testing, many clinicians and hospitals across the world are already using AI to improve day-to-day medical care. AI has become increasingly sophisticated and efficient, and a new wave of investment and research in the wake of COVID-19 could spur even more innovation in this area.

We have seen how tech companies, universities, and researchers are stepping up to apply AI technology to this Covid-19 pandemic response and this work will stand us in good stead to prepare for a similar outbreak in the future. For example, Microsoft recently re-affirmed its support to the C3.ai Digital Transformation Institute which is jointly managed and hosted by the University of California, Berkeley and the University of Illinois at Urbana-Champaign. The Institute aims to bring together scientists, academics, and private companies to explore AI techniques to mitigate the spread of COVID-19.

Aside from the technology giants and large educational and research institutions, smaller start-ups also have a crucial role to play in developing this AI technology to help preparation for the next pandemic. For example, I sit on the board of Paris-based OWKIN which harnesses the power of AI for medical research to develop faster, safer, and more effective medicines and treatments for patients.

A note of caution

Although the potential benefits are immense, we must be cautious, especially regarding patient confidentiality. Unfortunately, we have seen examples of illegal and unethical selling of healthcare data in the pharmaceutical industry. It is essential that ethical concerns in the face of rapidly changing technology must never be set aside; a patient’s right to privacy, anonymity, and control of the medical and person data is paramount to any advancement in AI.

Governments and regulatory experts must work together to ensure that the appropriate frameworks and safeguards are in place, and are under constant review to keep up with rapidly-developing technology, to ensure our ethical values are not compromised.

We must learn all the lessons we can from the fight against COVID-19 to protect our interconnected world in the future, in particular how AI technology can be correctly and ethically applied to any potential future threat, as the technology certainly has the power to drive forward our global efforts to map, test, contain, and prevent future pandemics.